Algonquin Power & Utilities (TSE:AQN) Reaches New 52-Week High at $22.90

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$22.90 and last traded at C$7.99, with a volume of 387760 shares. The stock had previously closed at C$7.94.

Analysts Set New Price Targets

Separately, Desjardins raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Monday, March 11th.

Algonquin Power & Utilities Trading Up 1.5 %

The stock has a market capitalization of C$5.63 billion, a PE ratio of 204.25, a P/E/G ratio of 1.07 and a beta of 0.45. The firm has a 50 day moving average price of C$8.17 and a 200 day moving average price of C$8.09. The company has a quick ratio of 0.37, a current ratio of 0.63 and a debt-to-equity ratio of 123.16.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings data on Friday, March 8th. The company reported C$0.22 EPS for the quarter, topping the consensus estimate of C$0.19 by C$0.03. The firm had revenue of C$908.00 million during the quarter, compared to the consensus estimate of C$1 billion. Algonquin Power & Utilities had a negative return on equity of 0.47% and a net margin of 1.06%. Equities analysts expect that Algonquin Power & Utilities Corp. will post 0.6970954 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.294 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 14.39%. The ex-dividend date was Wednesday, March 27th. Algonquin Power & Utilities’s payout ratio is 1,475.00%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.